Apeptico completes €3.4m financing round
18.05.2012 - Austrian peptide drug developer Apeptico F&E GmbH has secured €3.4m financing.
Vienna – The Apeptico equity financing combined existing and new private and institutional investors, as well as a research grant from the Austrian Research Promotion Agency (FFG). Institutional and private investors contributed a total of €2m to the Series C financing – among them BioScience Venture Group, V+ GmbH & Co Fonds 2 KG, V+ GmbH & Co Fonds 3 KG, and business angels from Germany, Switzerland and the USA. At the end of 2011, Apeptico had already secured a research grant of €1.4m from the Austrian Research Promotion Agency FFG.
Dr. Bernhard Fischer, CEO of Apeptico, commented: “This round C financing enables us to continue the clinical development of our lead peptide AP301. AP301 will be assessed in a “proof of concept” study in intensive care patients to investigate the clinical effect of repetitive orally inhaled doses of AP301 on alveolar liquid clearance in acute lung injury.“
AP301 is a patented (AT_507_953), water soluble, synthetic cyclic peptide in clinical development that mimics the lectin-like domain of the human tumour necrosis factor alpha (TNFalpha). It can be administered into the lung by instillation or by oral inhalation. AP301 was originally designed for the treatment of acute lung injury and acute respiratory distress syndrome. Additional research demonstrated that AP301 has additional significant potential in related clinical indications, such as prevention and treatment of pulmonary permeability oedema, prevention of progression of acute hypoxemic respiratory failure due to bacterial/viral pneumonia and prevention of ischemia reperfusion injury.